Index Description

The TIAA ESG USA Mid-Cap Value Index (the “Index”) is primarily composed of equity securities issued by mid- capitalization companies listed on U.S. exchanges. The Index uses a rules-based methodology that seeks to provide investment exposure that generally replicates that of mid-cap value benchmarks through a portfolio of securities that adhere to predetermined ESG, controversial business involvement and low-carbon screening criteria. The Index is rebalanced on a quarterly basis.

Highlights

Consider the Fund if you’re seeking:

Core exposure to U.S. mid-cap value stocks for investors who value ESG principles

The TIAA ESG USA Mid-Cap Value Index is a custom index that is owned and calculated by MSCI, is based on the MSCI USA Mid-Cap Value Index and aims to reflect the performance of a TIAA Global Asset Management strategy.

Risk Considerations

Investing involves risk; principal loss is possible. There is no guarantee the Fund’s investment objectives will be achieved. This ETF seeks to generally track the investment results of an index; however the Fund may underperform, outperform or be more volatile than the referenced index. In addition, because the Index selects securities for inclusion based on environmental, social, and governance (ESG) criteria, the Fund may forgo some market opportunities available to funds that don’t use these criteria. The value of equity securitiesmay decline significantly over short or extended periods of time. Value stocks may not be fully recognized by the market and be undervalued. Because it invests primarily in mid-capitalization stocks, the Fund may be subject to greater volatility than those that invest in larger companies, but may be less volatile than investments in smaller companies. These and other risk considerations are described in detail in the Fund’s prospectus.

Shares of the Fund are bought and sold by retail investors on a national securities exchange at market prices (not NAV), and those prices may be greater than NAV (at a “premium”) or less than NAV (at a “discount”). Thus, investors may pay more or less than NAV when they buy Fund shares, and they may receive more or less than NAV when they sell those shares. The premium/discount information provided herein represents the past performance of the Fund and cannot be used to predict future results.

Before investing, carefully consider fund investment objectives, risks, charges and expenses. For this and other information that should be read carefully, please view the prospectus or summary prospectus.

The material contained on this website is not intended to be a recommendation or investment advice, does not constitute a solicitation to buy or sell securities, and is not provided in a fiduciary capacity. The information provided does not take into account the specific objectives or circumstances of any particular investor, or suggest any specific course of action. Investment decisions should be made based on an investor’s objectives and circumstances and in consultation with his or her advisors.

The information on this web site is intended for U.S. residents only. If you are a non-U.S. resident, please visit www.nuveenglobal.com. The information provided does not constitute a solicitation of an offer to buy, or an offer to sell securities in any jurisdiction to any person to whom it is not lawful to make such an offer.